After China's Baoshan Iron & Steel (Baosteel) price increases of CNY 50-150/ton in its domestic sales in January, Vietnam's Formosa Ha Tinh Steel Corporation (FHS) also increased its March prices in advance on Saturday, January 7th. Therefore, it was expected that Taiwan's China Steel Corporation (CSC) would definitely raise prices for February.
According to the price adjustment of the FHS, the price of hot-rolled steel was increased by US $ 40/ton, and the price of wire rod was increased by US$ 23 / ton, mainly reflecting higher production costs.
Supported by high-end costs and demand, steel prices have been easy to increase but difficult to decrease. CSC will adjust February prices according to the pricing trend of Asian producers, and the increased range will be subject to final discussion and market reaction regarding the current price trend.
Comments
No comment yet.